02 November 2017
North Korea has significantly increased the number of missile tests this year, while rejecting the latest round of UN Security Council sanctions as well as the “military option” warnings from Washington. In September 2017, Pyongyang escalated tensions to a new level by firing two long-range missiles that flew over Japan, conducting a hydrogen bomb test, and then boasting about “sinking” the Japanese archipelago into the Pacific a wave of nuclear attacks.
As tensions on the Korean Peninsula reached their peak in October, the stock market indices in the Far East climbed to new record highs. Technically, the market exhibits a remarkably strong positive momentum, which suggests that longer-term bull market phase has begun. Furthermore, Asia’s markets are not simply following the global economic upswing, but outperforming.
… Mikio Kumada is Executive Director, Global Strategist at LGT Capital Partners in Hong Kong. Michael Raska is Assistant Professor at the Institute of Defence and Strategic Studies, a constituent unit of the S. Rajaratnam School of International Studies (RSIS), Nanyang Technological University, Singapore.
GPO / IDSS / Online
Last updated on 07/11/2017